Rally off Fibonacci Grid Support Emini Update Dec 5

Dec 5, 2016: 11:55 AM CST

It’s always exciting when price does exactly what it should!

Here we’re seeing a rally up away from our Fibonacci Retracement level after Friday’s positive divergence and ‘double bottom’ short-term reversal price pattern.

Here’s today’s updated Emini (@ES) trading levels for your trades:

Traditional odds strongly favored a pullback and that’s precisely what we’re seeing.

Here’s two quotes from Friday’s strategy planning report for members, setting up the potential for today’s rally:

The confluence Fib Grid above suggested we first target a sell-swing toward 2,182 as a possible short-term DOUBLE BOTTOM pattern has occurred at this key target level.

As seen best on the intraday chart – and now on the daily chart – price is just ABOVE our official/logical target level.  Be careful here as price could turn and rally higher WITHOUT officially touching the exact target.

Want these levels and additional strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

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Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”” alt=”” width=”630″ height=”518″ />

Traditional odds strongly favored a pullback and that’s precisely what we’re seeing.

The initial target is the 2,182 pivot and if the retracement picks up steam from there, we’ll be playing toward 2,160.

I’ll have more details and precise planning for members – join us and make the rest of your 2016 more profitable!

Want these levels and additional strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”

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